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Yahoo! loses managing director for Asia

Published on February 21, 2001.

Hong Kong -- Savio Chow, VP-managing director of Yahoo! Asia has announced he is leaving the company for personal reasons later this quarter after two years with the U.S.-based Internet portal. His revelation comes just one day after the resignation of Fabiola Arredondo, Yahoo!'s managing director in Europe. Yahoo! describes the timing of both senior departures as coincidental. Mr. Chow is responsible for Yahoo! Asia outside Japan and South Korea, namely in greater China and Southeast Asia. He was responsible for Yahoo!'s much-praised acquisition of Taiwan's leading portal Kimo.com for $145 million in stock last November.

He has built the portal into the No. 1 site in Hong Kong and Taiwan. However, it languishes in sixth place in China with 1.98 million unique home visitors combined, according to Steve Yap, director, marketing & communications at Hong Kong-based Internet measurement specialist Iamasia (Interactive Audience Measurement Asia).

China's most successful portals are local favorites such as Sina.com, Sohu.com and Netease. Yahoo! Asia has also struggled with the region's slow development of online advertising, its main source of revenue.